Morning Business News Round Up_ Nov 22, 2018

  • Yes Bank into damage control mode, to meet on Dec 13
  • Foxconn aims to cut $2.9bn from expenses in 2019
  • Birla flags concerns on high spectrum payment to govt
  • Ramdev’s Patanjali is losing the race to lead India’s FMCG
  • Mobile component makers to invest up to $2-bln by Mar
  • IDBI Bank hopes to be back in black by first quarter
  • Panel proposals will help solve issues: Power Secy
  • NCLT could lose power to approve M&As in reform move
  • US court rules in favour of Dr Reddy’s, allows sale of generic Suboxone
  • India poised to topple Brazil as the world’s biggest sugar producer
  • IRDAI gives in-principle approval for IndiaFirst Life Insurance stake sale
  • FPIs pull out $900 mn from Indian market on widening CAD in Sept quarter
  • Crisil downgrades passenger vehicles’ sales forecast to 7-9% for FY19
  • Reliance Jio to be service provider for Railways from Jan 1
  • WGC, MMTC-PAMP set up gold assaying institute
  • Chinese market brightens prospects for mustard
  • Revenue shortfall may put pressure on the fisc
  • ONGC gas production at all-time high of 70 mmscmd
  • Vodafone Idea plans to invest Rs 27,000 crore in FY20
  • EU unveils policy paper on boosting ties with India
  • India liquidity crisis set to dent heavy truck sales
  • Bharat Gas, 2 others to invest ₹8,000 crore for CGD in Maharashtra
  • Global growth to slow to 3.5% in 2019: OECD
  • Shapoorji Pallonji Group plans $1 billion share sale of solar unit
  • CGTMSE tweaks norms to improve credit guarantee process
  • Farm loan waivers lead to fewer crop insurance policies
  • Digital lending to MSMEs to grow up to $100 billion annually in 5 years
  • NET Telecom Secretary asks states to utilise Bharat Net infrastructure
  • UltraTech to incorporate Binani Cement as subsidiary
  • FinMin aims to rein in CAD at 2.2-2.3% with lower crude, higher rupee
  • Half of India’s ATMs may close down by Mar ‘19
  • Srei PAT at Rs 111 cr, Bhutoria new CEO

Today’s M & A Deals_Nov 22, 2018

M & A Deals :

  • SoftBank ropes in Norwest director to head India investments
  • Arali Ventures marks first close of debut seed fund
  • Kotak gears up to float a bunch of PE, VC funds to double assets
  • Investcorp floats biz to buy stakes in mid-size alternative asset managers
  • Quikr trims cash burn but losses still exceed revenues in FY18
  • MobiKwik adds insurance to its portfolio of digital financial offerings
  • Indian OTT market to grow 10 times to $5 bn by 2023: BCG

Today’s M & A Deals_Nov 21, 2018

M & A Deals :

 

  • Cloudnine raises fresh private equity funding
  • IDFC’s mutual fund biz attracts interest from peers, market veteran
  • Ad veterans, Sequoia exec float venture capital fund
  • Korean, Japanese investors to back mobile gaming startup Mech Mocha
  • Hong Kong’s PAG closes $6 bn third fund, may invest in India
  • Canadian Solar to buy out Suzlon in two solar projects
  • Akshaypat Singhania floats $14 mn fund to invest in startups
  • Sensex snaps winning streak as RBI meet outcome fails to calm investors
  • Impact investor BlueOrchard offers more debt funding to microlender Aye Finance
  • Stellaris, Kalaari invest in KYC solutions startup Signzy
  • True North may sell stake in VKL; Radiant eyes tie-up with Jaslok Hospital
  • Fitness startup CureFit buys mental wellness platform Seraniti
  • AI-based KYC solutions startup Signzy secures Series A funding
  • Industrial IoT startup DeTect Technologies gets Series A cheque

Morning Business News Round Up_ Nov 20, 2018

  • RBI board to set up panel on capital framework, review PCA rules
  • Trai to meet telcos next mth to finalise 2019 agenda
  • RBI to inject Rs 8,000 cr liquidity on Nov 22
  • Yes Bank board overhaul: R Chandrashekhar may resign
  • Govt to raise up to Rs 14K cr via CPSE ETF
  • LSE moves bond trading from London to Italy ahead of Brexit
  • RIL considers plan to expand world’s largest refinery at Jamnagar by half
  • NSE launches online platform for retail investors to buy g-sec
  • Adani, GAIL & Bharat Gas to invest Rs 34 bn in gas distribution in Odisha
  • RBI and govt signal truce on demand for transferring surplus reserves
  • SC rejects Dalmia Bharat plea challenging NCLAT order on Binani Cement
  • IOC identifies areas for gas distribution in TN
  • IRDAI to review motor insurance norms for own damage cover
  • HDFC disburses over ₹1,100 cr under PMAY’s CLSS
  • Sugar production stood at 11.63 lakh tonnes till Nov 15
  • Truck operators want vehicle fuel to be brought under GST

Morning Business News Round Up_ Nov 19, 2018

  • RBI, govt likely to reach common ground on key issues
  • CIC asks PMO, RBI to disclose wilful defaulters’ list
  • PSU banks’ losses widened by 3.5 times in Q2
  • Govt should stick to fiscal deficit target: Panagariya
  • JSW Steel to invest over Rs 5,000 cr on manufacturing
  • HDFC disburses Rs 1,100 cr subsidy to home buyers
  • Power ministry fears merger likely to hurt PFC, REC
  • Mutual fund industry seeks urgent meet with Sebi on expense structure
  • Govt looks to garner Rs 50 bn from CPSE share buybacks in FY19: FinMin
  • Govt gives ministries autonomy in hiring PSU directors sans PESB nod
  • PM Modi to chair meet with top industrialists on ‘Ease of Doing Business’
  • Siemens net profit dips over 55% to Rs 2.79 bn for quarter ended on Sept 30
  • Mobile cos seek 10-yr tax holiday, reforms to become $230-bn sector: Report
  • P-note investments continue to drop; hit fresh low of Rs 66,587-cr
  • FPIs invest over $1 bn on easing oil prices, rupee recovery
  • ACE products should be excluded from FTAs: Report
  • Work on IOC’s Kochi LPG terminal to begin in Jan
  • Philips TVs to make a comeback; tie-up with TPV Technology
  • CAG’s GST audit report likely to be tabled in Winter Session
  • 358 infra projects show cost overruns of over Rs 3.37 trillion
  • India invites bids from mutual funds for new Debt ETF
  • Nigeria seen as biggest rice buyer in 2019, behind China
  • Spectrum sharing may help telecom firms shift to 5G in India
  • Amid tiff with Centre, RBI board likely to debate liquidity crisis
  • GAM said to offer star fund managers special retention bonuses
  • RBI net sells $18.66 bn of greenback between April-Sept.
  • Tata Sons only in preliminary talks with Jet Airways about a deal
  • Government to resolve issues impacting coal output, supply: Piyush Goyal
  • BSE to part ways with S&P Dow Jones
  • Mudra loans-big source of oxygen for small businesses
  • DoT to take up further policy reforms for high digital goals: Secretary
  • PNB’s overseas ops also under fraud cloud
  • RBI, govt may converge on PCA, credit, liquidity issues

Morning Business News Round Up_ Nov 16, 2018

  • Tata board may decide Jet Airways takeover on Friday
  • Fitch keeps India’s sovereign rating unchanged at ‘BBB-‘
  • October trade deficit widens to $ 17.13 billion
  • Trai floats paper on discontinuing printed phone bills
  • ITC looks to expand food portfolio to boost turnover
  • Sebi asks listed cos to disclose commodity risks in transparent, uniform manner
  • Centre looks to raise Rs 140 bn through basket share sale in 11 CPSEs
  • Rahul Bajaj lauds Urjit Patel for defending RBI, warns govt on Section 7
  • No takers for India’s real estate bonds as IL&FS fuels worry of defaults
  • Rupee rallies to two-month high, jumps 34 paise to close below 72-mark
  • Walmart increases annual earnings estimate on higher quarterly revenue
  • Mahindra to invest ₹1,000 cr in e-vehicles
  • ‘Over 10 lakh crore invested in telecom sector in 2 years’
  • Exports bounce back, grow 17.86% to $26.9 b in October
  • Post GST, pharma sector grew 6% till May this year: Minister
  • Bajaj Electricals expects 49% increase in turnover this year
  • Coal India Q2 profits boosted by higher selling prices
  • ITC eyes Rs1 trillion from FMCG, plans to expand food portfolio
  • Indian Hotels narrows Q2 loss to ₹5.21 crore
  • RInfra Q2 profit slips 49% to Rs277 crore
  • Uber posts $1 billion loss as growth in bookings slows
  • India’s transition to low carbon economy still short, claims report
  • Demonetisation: 80,000 being chased by I-T for large cash deposits
  • RBI Board meet: Finance Ministry keen on boosting MSME credit, NBFC liquidity
  • NBFC debt crisis is starting to hit India’s consumersØ CAR of Allahabad Bank, UCO, IDBI, CBI fall below 9%
  • BEL pays 40% final dividend to govt, total at 200%
  • Intel sets up Rs 1,100 crore design centre in Bangalore
  • ED probes FEMA violations by Amazon, Flipkart

Morning Business News Round Up_ Nov 15, 2018

  • India, US to increase engagement in oil, energy sector
  • Vodafone Idea reports Q2 loss of Rs 4,974 crore
  • RBI imposes fine of Rs 3 cr on Deutsche, J&K Bank
  • Air India bailout plan not alt to divestment: CMD
  • Gautam Singhania quits Raymond Apparel as chairman
  • RBI, govt trying to reach consensus on some issues
  • Pfizer Q2 net profit falls 14% to Rs 95.8 crore
  • Moody’s downgrades Tata Motors’ outlook to negative on JLR woes
  • India to attract investments worth $80 bn in renewable energy: Report
  • NCLAT okays UltraTech bid for Binani Cement, says no to Dalmia Bharat
  • Nalco declares share buyback offer worth Rs 5.05 bn; date of closing Nov 28
  • M&As likely to gain traction as more bankruptcy cases go to NCLT
  • Tata Global to invest ₹100 cr in tea packaging unit
  • Steel, Heavy Industry, Textile Ministries still apprehensive over RCEP pact
  • Govt mulls delinking investment from FTAs, seeks legal opinion
  • GVK to divest stake in airport holding biz
  • CESC Q2 profit up 20% at ₹975 cr
  • Motherson Sumi Q2 net down 10% at ₹426 cr
  • Jet Airways to sell six Boeing 777 planes to reduce debt
  • RBI, govt trying to reach common ground on some key issues
  • IDBI Bank posts eighth straight quarterly loss as provisions surge
  • NBFCs face unforgiving bond market as volumes plummet
  • Yes Bank chairman Ashok Chawla resigns over corruption charges
  • Q2 results: M&M profit rises 24%, beats estimates
  • Rupee payment mechanism to bolster India’s trade with Iran, says TPCI
  • Samsung drugmaker fined for $4 billion accounts breach
  • India’s job outlook drops 3 percent to 92 percent in H2 of FY19: Report
  • CCI cotton procurement yet to pick up as prices above MSP
  • DoT explores single telecom fee, to define AGR to cut disputes
  • RBI, govt to accommodate each other by Nov 19 meet
  • Sundaram Fin to divest 40% stake in Royal Sundaram
  • JM Financial arm offers 10% interest on NCDs

Today’s M & A Deals_Nov 15, 2018

M & A Deals :

  • Motilal Oswal PE loses a top executive
  • Ageas to acquire 40% stake in Royal Sundaram General Insurance
  • Prime Venture leads Series A funding in retail-tech platform Perpule
  • 1Crowd leads pre-Series A funding round in Hoi Foods
  • Sensex closes flat as firm rupee weighs on IT, healthcare stocks
  • Retail-tech startup Perpule gets Series A cheque
  • Infibeam’s revenue up 83% in Q2, posts net profit

Today’s M & A Deals_Nov 14, 2018

M & A Deals :

  • PE funding isn’t on GSK Velu’s mind as he charts course for Neuberg Diagnostics
  • State Bank of India gears up for IPO of PE-backed general insurance unit
  • Former Clix Capital executive gets funding for SME-focussed NBFC
  • Thyrocare founder A Velumani on why diagnostics sector draws PE interest and more
  • Capria’s emerging markets $100 mn fund-of-funds marks first close
  • IndusInd Bank calls off acquisition of IL&FS’ securities services arm
  • SEBI tightens disclosure norms for ratings agencies in wake of IL&FS crisis
  • Stevens Creek Ventures leads funding round in on-demand driver provider DriveU
  • IndiaNivesh marks first close for turnaround fund
  • Sensex bounces back from early losses as banking, energy stocks lead charge
  • On-demand driver provider DriveU raises funding

Morning Business News Round Up_ Nov 14, 2018

  • Tata Steel Q2 profit jumps 3-fold to Rs 3,604 crore
  • RBI to inject Rs 12,000 crore liquidity on November 15
  • Ashok Leyland first set of EVs to hit roads in Jan
  • Essel to sell up to 50% of promoter holding in ZEE
  • Sun Pharma posts surprise Q2 loss of Rs 219 crore
  • RBI needs to align capital adequacy norms
  • Sebi tightens disclosure, review norms for credit rating agencies
  • Reliance Infra wins Rs 161 million arbitration award against NHAI
  • Tata Sons begins due diligence to buy debt-ridden Jet Airways: Report
  • Hindalco to invest Rs 60 bn in downstream facilities in four years
  • Allahabad Bank to raise additional Rs 18-19 bn to shore up capital adequacy
  • Agritrade acquires SKS Power Generation in Rs 21.7 bn one time settlement
  • Attorney General in favour of imposing a cess on sugar
  • Jet Airways in talks to sell stake in luxury unit
  • Cotton crop estimate put at 373 lakh bales for 2018-19
  • Consultancy drives RITES’ net profit up by 59% in Q2
  • Ashok Leyland Q2 net jumps 37.50% to ₹459.50 cr
  • NCC net zooms by 134% to ₹125 cr
  • SoftBank commits another $3 billion in funding to WeWork
  • IHH acquires controlling 31.1% stake in Fortis for Rs 4,000cr
  • IL&FS board invites buyers for stake in two of its subsidiaries
  • Bank of India posts ₹1,156 crore loss in Q2 on surging NPAs
  • Mutual Funds SIP flow climbs 42% to Rs7,985 crore in Oct
  • Jindal Stainless warns of import surge if China trade deepens
  • NITI Aayog seeks more time to analyse GDP back series data; may release it by December-end
  • India emerges as leading seed hub in Asia
  • Adani gets SC nod to supply natural gas to three areas in Ahmedabad
  • China’s biggest bank to invest $200 million in Indian SMEs
  • US dollar hits 16-month high, yen boosted by risk-off sentiment
  • Essar creditor moves NCLT against Arcelor
  • Tata Motors seen as most vulnerable to hard Brexit
  • IndusInd calls off IL&FS Sec buyout
  • NBFC crisis lowers CFO optimism to 19-qtr low
  • India to rise from seventh largest economy to third by 2030
  • India’s solar capacity at 27.4 GW till September end: Report